Search Office Space

Finding Office Space to Rent Since 1993

International: 001 212 403 2878

Terms of Trade between SOS & Business Centres

1. Registration - To register your business center on to the SOS Worldwide Inc. Ltd website is absolutely free and there are no joining or annual membership fees. Your business center will only go live on our website once we have received signed terms of business in writing, either in the post or scanned by email.
2. New client introductions - Our effective introduction is made when we pass the details of a business center to the prospect. This introduction is confirmed by way of the SOS Worldwide Inc. Ltd email confirmation. In certain circumstances, it may not be possible to confirm our introduction by email. When an email confirmation cannot be made due to timing purposes or it being misplaced, an effective introduction has still have been made by SOS Worldwide Inc. Ltd. Receipt of the email introduction is a confirmation only and not a qualification that an effective introduction has been made. All inquiries emailed to business centers also appear in the private section of your business center client management section on our website.
3. New client rejection - It is assumed that the business center acknowledges and accepts a new SOS Worldwide Inc. Ltd prospect on receipt of our email introduction, unless the email is returned to SOS Worldwide Inc. Ltd within forty-eight hours, stating when the inquiry had been received and by which source. This will avoid any misunderstanding. If a rejection email is not received, then the commission will be payable to SOS Worldwide Inc. Ltd.
4. New client confirmation - It is the responsibility of the business center to provide SOS Worldwide Inc. Ltd with the prospect's details (start date, rental and company name) when a prospect signs an agreement, within 48 hours of receiving signed documentation.
5. Privacy policy - It is understood that any prospect introduced to you by SOS Worldwide Inc. Ltd is strictly for your use only. The business center can only use the user/prospect's information in relation to offering business center services. It cannot be passed on to a third party, such as another agent/broker or another business center, without the prior approval of SOS Worldwide Inc. Ltd. The relationships between all parties must be agreed upon by SOS Worldwide Inc. Ltd before the prospect's details are passed on. If the prospect is referred to a third party, SOS Worldwide Inc. Ltd commission is still the responsibility of the business center that the prospect was originally sent to.
6. Commission structure - When the SOS Worldwide Inc. Ltd prospect that we have introduced (via email, fax or telephone or through a 3rd party), takes occupation or acquires any of your services at your business center(s) (including but not limited to full time/part time office space, co-working space, virtual offices or meeting rooms) as a result of our introduction, it is the responsibility of the business center to advise SOS Worldwide Inc. Ltd in writing by email the start date, monthly inclusive rental and initial term, at which time our introductory fees/commissions become payable. Our introductory fees are 10% of the inclusive license fee for a period of up to 12 months. If a tenant signs for an initial period less than 12 months, SOS Worldwide Inc. Ltd is entitled to commissions on any renewal period up to the first 12 months of occupation, irrespective of whether we were involved in the renewal negotiations. SOS Worldwide Inc. Ltd reserves the right to accept higher commission than 10% in the event that any business centers run such promotions.
7. Expansions - Should the license fee increase during the term of the agreement, it is the obligation and responsibility of the business center to advise SOS Worldwide Inc. Ltd in writing/email within 48 hours of the change in terms.
8. Payment - Settlement of invoices is to be made in advance, in one single payment for the full 12 months commission. All invoices are to be paid within 14 days. In certain circumstances, we will agree to different billing cycles eg if the client does not initially sign for 12 months. If the client vacates earlier or signs an agreement for less than 12 months (example six months) then our fees will be calculated on a pro rata basis.
9. Change of ownership - In the event that a business center (or an entire group or part of a group of business centers) is sold, it is the responsibility of the business center to advise SOS Worldwide Inc. Ltd in writing and to ensure the new owners are aware of the future commission payment obligation to SOS Worldwide Inc. Ltd. should this not happen, then the remaining commission payments will have to be paid by the original owners (sellers).
10. Overturn rule - Regardless of which broker refers an enquiry first, the enquiry should be overturned to the broker who subsequently books a viewing first. Should that convert to a sale, the broker who arranges a successful tour (i.e. a completed tour, which means the client actually attends the tour) should be credited with the commission. If the business centre arranges the tour, and not the broker, then the "first past the post" rule still applies. I.e. the broker who referred the enquiry first, is credited for the deal. This will also apply in the event that that an overturned prospect is a no-show i.e. does not attend the tour.